Stock Market & Financial Investment News

Westlake Chemical special dividend record date amended to November 29Westlake Chemical Corporation's declared regular quarterly dividend of 18.75c per share and a special dividend of $3.75 per share will both be payable on December 12 to stockholders of record on November 29, amended from the November 26 date announced earlier in a company press release.

Westlake Chemical Partners criticizes proposed MLP regulationsWestlake Chemical Partners (WLKP) submitted comments in response to the proposed regulations that were issued on May 5 by the Internal Revenue Service and the U.S. Department of Treasury concerning section 7704d1E of the Internal Revenue Code. In conjunction with filing its comments, Westlake Chemical Partners said, "The proposed regulations effectively revoke a previously issued private letter ruling by the IRS, which served as the underlying basis for the decision to form WLKP as a master limited partnership in 2014. Westlake Chemical Partners believes this reversal, even with a ten-year transition period, is unfair to our unitholders and sends an unfortunate message to investors and businesses that they cannot rely on IRS rulings. Additionally, this proposed ruling has already had a significant negative impact on the market value of both WLKP and Westlake Chemical (WLK)."